CDP MOCKBOARD -Exam Questions and
Answers
A warehouse facility established for the manufacture of products utilizing raw
materials or components that are imported duty and tax free conditioned on the
exportation of the finished products within the prescribed period. -
✅✅Manufacturing Customs Bonded Warehouse
Raw materials entered for consumption in MCBW shall not exceed ______ of the
volume of raw materials entered for warehousing. - ✅✅30%
shall refer to assessment of a Provisional Goods declaration pending final
readjustment and submission by the declarant of the additional or documentation
required to complete the declaration - ✅✅Tentative Assessment of Provisional
Goods Declaration
Yes or No.
The district collector instructed the party concerned to post this specific security
to guarantee the payment of duties and taxes and other obligations. Is the district
collector correct? - ✅✅False. Under CAO 1, 2021, any party required to provide
security to guaranty the payment of duties and taxes and other obligations shall
have the OPTION to choose from any of the following forms of security stated in
the order.
True or False.
,The required amount of security shall be the lowest possible and shall not exceed
the imposable duties, taxes and other charges - ✅✅True
Shall refer to an automated system to be adopted and utilized by the bureau in
determining the volume and value of the raw materials exported and subject for
liquidation, including duties and taxes due on allowable residues/wastages/by-
products and other portion of the imported articles, entered through
warehousing, no longer usable for the manufacture of the goods to be exported -
✅✅Raw Material Liquidation System (RMLS)
When the business of the port and trade requires such facilities, the
____________, subject to the approval of _____________ shall designate and
establish customs warehouses for the storage of imported goods or for other
special purposes - ✅✅District Collector; Commissioner
Who is responsible for the licensing of of all CBWs? - ✅✅Bureau or
Commissioner
CBWs, including their expansion, extensions and additional facilities and the
goods stored thereat, shall be subject to the supervision of? - ✅✅District
Collector
Yes or No
Is the bureau liable for any loss or damage of the goods stored in any CBW? -
✅✅No.
What are the types of CBW - ✅✅MCBW
,MMBW
GTMBW
CCBW
ICBW
NCBW
An example of NCBW which are authorized by the bureau to import, receive and
store goods for their own accounts intended for domestic consumption -
✅✅Private Customs Bonded Warehouse
Refer to an indorsement from the Revenue Office of the DOF evidencing
exemption of a particular importer from payment of duties and taxes on his
importation - ✅✅Tax Exemption Indorsement
In case of deferred payment, where shall the concerned party comply with the
pertinent regulations? - ✅✅Department of Budget and Management
Who shall be deemed owner of the goods? - ✅✅Consignee
Holder of the AWB/BL
Underwriters
Salvors
What are the documents required for goods entered for consumption through
Formal Entry Process? - ✅✅SAD Print-Out
Revised SDV
Duly endorsed AWB/BL
, Commercial invoice
Packing List
Documents as may be required by the bureau
What are the documents required to prove transaction value of goods entered for
consumption through formal entry process? - ✅✅Proof or payment
sales contract
purchase order
proforma invoice
other docs to prove transaction value
To where shall the documentary requirements for goods for consumption for
formal entry process be submitted? - ✅✅Formal Entry Division
Upon lodgment of goods declaration, in case the importer is a juridical person, for
corporation, the responsible officer must be authorized by ______________ to
sign as the declarant on its behalf as shown by the ____________ - ✅✅Board
of Directors; Corporate secretary's certificate
In relation to the preceding question, in case of partnerships, what must the
responsible officer obtain to be authorized as declarant - ✅✅certification by
the managing partner
Goods declaration must be lodged within? - ✅✅15 days from the date of
discharge of the last package from the vessel or aircraft
Answers
A warehouse facility established for the manufacture of products utilizing raw
materials or components that are imported duty and tax free conditioned on the
exportation of the finished products within the prescribed period. -
✅✅Manufacturing Customs Bonded Warehouse
Raw materials entered for consumption in MCBW shall not exceed ______ of the
volume of raw materials entered for warehousing. - ✅✅30%
shall refer to assessment of a Provisional Goods declaration pending final
readjustment and submission by the declarant of the additional or documentation
required to complete the declaration - ✅✅Tentative Assessment of Provisional
Goods Declaration
Yes or No.
The district collector instructed the party concerned to post this specific security
to guarantee the payment of duties and taxes and other obligations. Is the district
collector correct? - ✅✅False. Under CAO 1, 2021, any party required to provide
security to guaranty the payment of duties and taxes and other obligations shall
have the OPTION to choose from any of the following forms of security stated in
the order.
True or False.
,The required amount of security shall be the lowest possible and shall not exceed
the imposable duties, taxes and other charges - ✅✅True
Shall refer to an automated system to be adopted and utilized by the bureau in
determining the volume and value of the raw materials exported and subject for
liquidation, including duties and taxes due on allowable residues/wastages/by-
products and other portion of the imported articles, entered through
warehousing, no longer usable for the manufacture of the goods to be exported -
✅✅Raw Material Liquidation System (RMLS)
When the business of the port and trade requires such facilities, the
____________, subject to the approval of _____________ shall designate and
establish customs warehouses for the storage of imported goods or for other
special purposes - ✅✅District Collector; Commissioner
Who is responsible for the licensing of of all CBWs? - ✅✅Bureau or
Commissioner
CBWs, including their expansion, extensions and additional facilities and the
goods stored thereat, shall be subject to the supervision of? - ✅✅District
Collector
Yes or No
Is the bureau liable for any loss or damage of the goods stored in any CBW? -
✅✅No.
What are the types of CBW - ✅✅MCBW
,MMBW
GTMBW
CCBW
ICBW
NCBW
An example of NCBW which are authorized by the bureau to import, receive and
store goods for their own accounts intended for domestic consumption -
✅✅Private Customs Bonded Warehouse
Refer to an indorsement from the Revenue Office of the DOF evidencing
exemption of a particular importer from payment of duties and taxes on his
importation - ✅✅Tax Exemption Indorsement
In case of deferred payment, where shall the concerned party comply with the
pertinent regulations? - ✅✅Department of Budget and Management
Who shall be deemed owner of the goods? - ✅✅Consignee
Holder of the AWB/BL
Underwriters
Salvors
What are the documents required for goods entered for consumption through
Formal Entry Process? - ✅✅SAD Print-Out
Revised SDV
Duly endorsed AWB/BL
, Commercial invoice
Packing List
Documents as may be required by the bureau
What are the documents required to prove transaction value of goods entered for
consumption through formal entry process? - ✅✅Proof or payment
sales contract
purchase order
proforma invoice
other docs to prove transaction value
To where shall the documentary requirements for goods for consumption for
formal entry process be submitted? - ✅✅Formal Entry Division
Upon lodgment of goods declaration, in case the importer is a juridical person, for
corporation, the responsible officer must be authorized by ______________ to
sign as the declarant on its behalf as shown by the ____________ - ✅✅Board
of Directors; Corporate secretary's certificate
In relation to the preceding question, in case of partnerships, what must the
responsible officer obtain to be authorized as declarant - ✅✅certification by
the managing partner
Goods declaration must be lodged within? - ✅✅15 days from the date of
discharge of the last package from the vessel or aircraft
